How to Promote a New Product Successfully

November 23, 2022

For any business that exists on the internet, one essential ingredient is online marketing. Without getting the word out about its products and services, a company will struggle to entice any customers to sample what they have to offer – no matter how great it tastes.

Promotion is key for every online business, yes, but it’s particularly important for a new product launch. Product development costs are burning a hole through a company’s budget, and a strong start is imperative to bring finances back in the black.

There’s just one problem: how do you successfully promote a new product online?

The answer – well, answers – can be found below. This guide spotlights the key steps to take when marketing your latest product.

 

 

Think about the product itself

What are the unique selling points? What does your product possess that makes it stand out from the competition? Why does it exist in the first place?

Hopefully, you have already answered these questions positively before jumping into development. Because if you don’t have any USPs or standout qualities, you’re going to be in a tricky position when marketing your new product.

Now you don’t necessarily have to reinvent the wheel here. Even a small added feature can help to differentiate your product from those already available. Although obviously, the more unique, the better – assuming the product is effective and beneficial to the user.

Another aspect to consider is the packaging. Presentation matters when selling to customers, and your packaging plays a key role in that regard.

Now you might believe this isn’t too important when selling online. After all, this is different when trying to catch the eye of customers in a physical store. However, packaging can make all the difference whether a customer buys your product or not. Think about if it is bought as a gift for example. If it is professionally packaged and attractively presented, someone is going to be more willing to give this to a friend or loved one.

 

Know your audience

 

You know your product. You know the features that make it stand out. Yet do you know enough about your target audience?

Understandably, product development needs to go hand in hand with researching your audience. Create a product that isn’t aimed at anyone specifically, and you can wave goodbye to any hopes of even getting your money back. The same can be said if you aim the product at the wrong customer base.

To identify the ideal target market for your new product, consider the following questions:

  • How would you define an ideal customer for your product?
  • What demographics do they fit into?
  • Which outlets do they utilize online for information?

The first question should be simple enough. If you’re selling vegan cheese, for example, you’ll know the ideal customer would be a vegan that enjoys plant-based cheese.

The second question is less self-explanatory. Why do you need to know customer demographics? Well, this fits into your marketing strategy. If you’re unsure of demographics such as age, gender, income, and geographic location, this could see your promotional efforts hitting way off the mark.

The third question is about learning which channels they use when online. Do they use social media? Google searches? YouTube videos? Learning this information is vital for knowing which platforms to target with your marketing efforts.

 

Educate the customer

It’s not simply a case of creating a product, and saying to customers, ‘Hey, here’s our product. Buy it now,’ and expect the sales to roll in. You have to take your audience on an educational journey.

Yes, you’re fully aware of the features and benefits of your new product. Your customers, on the other hand, don’t possess this knowledge – certainly not immediately. You have to supply it to them in a clear, concise manner. Here are some examples:

  • Create a bullet point list: This should be a quick list that touches upon the main features of your product.
  • Produce an infographic: Combining information with visuals, an infographic is an excellent way to convey features, how to use your product, etc. that’s easy to understand.
  • Create a video demo: If your product requires additional information or a demonstration to get everything across, a video demo makes sense. This way, potential customers can see the product in action and get a full understanding of what it offers.
  • FAQ: For the product page on your website, think about adding an FAQ section. This can be used to answer any potential questions customers have about the product.

 

Marketing the right way

Okay, all of the above points help with your overall marketing efforts. Yet when it comes to online marketing, the work truly begins now. You have to select which channels you’ll use – SEO, social media, PPC ads, etc. – to promote your products. You also need to decide which platforms you will use to sell your product. This can be done exclusively on your website, or you may decide to combine this with external platforms like Amazon, Etsy, and eBay.

With so much to consider and so many decisions to make, a lot of businesses decide to hand this portion of work to a marketing agency. As noted by ecommerce marketing specialists Nuanced Media, this is an effective – and foolproof – way to ensure all channels and possible situations are covered. A dependable marketing agency knows how to put together a comprehensive, quality marketing campaign that will generate results for your new product.

 

Build up anticipation

You’re closing in on the release date of your new product. Instead of doing this with a whimper, ensure you make the biggest bang possible.

There are various approaches you can take to build up this anticipation. One effective way is to run either a contest or a giveaway. This is an excellent tactic to bring attention to your new product. People love free stuff. If all they have to do to be in with a chance of winning is, say, liking a Facebook post, they’re going to do it – and this can bring a lot of attention to your product and business.

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